Hear all about it
Added ( 01-04-2008 )
On 20 March, Peter Ballard, one of Foolproof's founding partners, made the opening address at Post Magazine's eBusiness Strategy Seminar in London.
Peter's presentation entitled "How do consumers really shop online" analysed the latest buying trends, looked at how the industry is rising to the challenge of consumer expectation and identified practical things that businesses can do to make the most out of the online channel.
Addressing over 100 of the insurance industry's leading online marketers he presented Foolproof's latest views on how insurance is bought and sold online:
- Motor and home insurance markets are the most mature in the personal finance sector
- Search engines now make it easy for online shoppers to find big brands, be they insurers, brokers or comparison sites
- Online brand visibility is vital as shoppers won't seek out the insurers they say they will – they'll go to the ones that stand out on the web
- Your site must make it easy to convert sales…or you'll lose potential customers quickly
- Consumers typically get 2-3 quotes and are looking to beat their renewal quote... from a company they trust, with comparable cover who make it easy to switch
- Price is the initial filter, then brand and product attributes but current online offerings do not allow 'true' comparisons to go beyond price and brand
- Aggregator and comparison sites are winning the race for visitors but the user experiences are poor, partly because you cannot compare on a like-for-like basis
- Handovers to insurers' sites from comparison sites is often a shambles
- New comparison site entrants are starting to offer comparisons by product feature and in the future they will introduce user generated content
For the full presentation go to Post Magazine Presentation
« Back to NewsNext News Article »
|
